{"id":12523,"date":"2023-07-05T07:51:54","date_gmt":"2023-07-05T07:51:54","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=12523"},"modified":"2023-07-05T07:51:55","modified_gmt":"2023-07-05T07:51:55","slug":"binance-australia-offices-reportedly-searched-by-local-regulator","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12523","title":{"rendered":"Binance Australia offices reportedly searched by local regulator"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Binance<strong> <\/strong>Australia is working with local authorities on meeting compliance requirements amid reports alleging that the company\u2019s offices were searched on July 4.<\/p>\n<p>&#8220;We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,\u201d a spokesperson for Binance Australia told Cointelegraph.<\/p>\n<p>The Australian Securities and Investments Commission (ASIC) conducted searches at Binance Australia locations on Tuesday, Bloomberg reported. The investigation was part of an ongoing probe of Binance\u2019s now-defunct Australian derivatives business, the report notes, citing anonymous people familiar with the matter.<\/p>\n<p>Binance\u2019s representative did not confirm or deny to Cointelegraph whether the company\u2019s offices were searched, or even whether the company was aware of a local probe.<\/p>\n<p>The news came a few months after the ASIC canceled the license of Binance Australia Derivatives in April 2023. The move followed a targeted review of Binance\u2019s operations in the country, particularly the platform\u2019s classification of retail and wholesale clients.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Australian banks claim 40% of scams \u2018touch\u2019 crypto as it defends restrictions<\/em><\/strong><\/p>\n<p>In response, Binance chose to pursue a \u201cmore focused approach\u201d in Australia, opting to shut down derivatives trading in the country. Binance still offers spot trading services in Australia.<\/p>\n<p>Previously, Australian regulators launched an investigation into Binance after the company abruptly closed some derivatives positions in February. The company cited investor classification compliance, reportedly claiming that it was restricting users that didn\u2019t meet the requirements to be wholesale investors.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Asia Express: HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack<\/em><\/strong><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/binance-australia-offices-reportedly-searched-by-local-regulator\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance Australia is working with local authorities on meeting compliance requirements amid reports alleging that the company\u2019s offices were searched on July 4. &#8220;We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,\u201d a spokesperson for Binance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-12523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12523"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12523\/revisions"}],"predecessor-version":[{"id":12525,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12523\/revisions\/12525"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12524"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}